gf-a330
Posts: 1604
Joined: Tue Apr 03, 2001 10:09 pm

B747 For $0.5m, Worth It?

Sat Nov 16, 2002 3:30 am

PIA Boeing 747-217B bearing registration number AP-BCO is available for sale at around US$ 0.5M. Is this a/c really worth the amount ?


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Lindy
Posts: 4722
Joined: Wed May 19, 1999 10:42 pm

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 3:34 am

Are you sure that its only $500K ??? Seems too cheap for me.
Empty fuselage of B727 without anything in it cost around $300K

Rafal
BWIADCA - Nikon D100
 
backfire
Posts: 3467
Joined: Fri Oct 06, 2006 8:01 am

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 5:00 am

The Russian Buran space shuttle was kicking around at auction for $6m earlier this year.
 
Ikarus
Posts: 3391
Joined: Mon Jan 08, 2001 10:18 pm

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 5:10 am

If that includes free delivery, I'll order a few. Makes for nice housing. Much more aesthetic than the student flat I currently live in....  Wink/being sarcastic

Regards

Ikarus
 
aa61hvy
Posts: 13021
Joined: Fri Nov 05, 1999 9:21 am

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 5:13 am

Man if i had that much money right now, id buy it, get a new paint job and use the 747 to fly around in for fun.
Go big or go home
 
jhooper
Posts: 5560
Joined: Thu Dec 13, 2001 8:27 pm

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 5:24 am

The $500,000 is the cheap part. Add insurance, maintenance, storage, fuel, etc., and we're talking about more than just a small fortune Big grin
Last year 1,944 New Yorkers saw something and said something.
 
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clickhappy
Posts: 9042
Joined: Thu Sep 13, 2001 12:10 pm

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 5:33 am

prob. needs a C or D check.
 
Guest

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 5:49 am

The lowest priced 747-200 that I heard recently was about 2 million dollars... passenger aircraft... cargo airplanes go for 6+ million...
xxx
And the prices I quoted you do not require maintenance - C check...
One half million would be... a down payment...
(s) Skipper
 
B747-437B
Posts: 8777
Joined: Thu May 30, 2002 6:54 am

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 5:58 am

Any word on the cycles, maintenance and incident record on the aircraft?
"The A340-300 may boast a long range, but the A340 is underpowered" -- Robert Milton, CEO - Air Canada
 
hmmmm...
Posts: 1959
Joined: Tue May 18, 1999 8:32 am

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 6:29 am

Sure it's worth it. That's a steal. But that doesn't mean it's cheap. I reckon it would cost half a million just to clean the plane. And I doubt the smell of curry could be totally removed no matter how hard you tried.
An optimist robs himself of the joy of being pleasantly surprised
 
sllevin
Posts: 3312
Joined: Wed Jan 30, 2002 1:57 pm

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 2:53 pm

Are the engines included?

Without engines, and coming up on D check, that price is almost believeable.

Steve
 
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United_fan
Posts: 6383
Joined: Fri Nov 24, 2000 11:11 am

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 10:48 pm

It would be like buying an old cop car or taxi with a blown motor. Once PIA gets rid of 20+ year old plane,you know it's hosed.....
Champagne For My Real Friends,and Real Pain For My Sham Friends
 
delta-flyer
Posts: 2631
Joined: Mon Jul 30, 2001 9:47 am

RE: B747 For $0.5m, Worth It?

Sat Nov 16, 2002 11:07 pm

The value of an aircraft to an operator depends solely on its earning potential -- that is, the revenue it will produce over and above the cost to operate it. As mentioned above, the latter includes fixing it up, getting insurance, etc.

For a collector, it may be a "steal", but it's obviously not in a condition that is conducive to making a profit.

Pete
"In God we trust, everyone else bring data"
 
goingboeing
Posts: 4727
Joined: Sat Dec 04, 1999 1:58 am

RE: B747 For $0.5m, Worth It?

Sun Nov 17, 2002 1:02 am

not to be picky, but "m" in accounting usually indicates thousands. "mm" would designate millions. So $0.5m is $500. Heck, I'd pay that.
 
hmmmm...
Posts: 1959
Joined: Tue May 18, 1999 8:32 am

RE: B747 For $0.5m, Worth It?

Sun Nov 17, 2002 9:11 am

If you wish to operate a low-price service, like Tower Air, this old bird can make a handsome profit once airborne. The cost of getting something air worthy like this is usually but a fraction of buying newer equipment. That's why carriers like Air Transat still cling to their old L-1011s. They fly and they are paid for. They may be old, but spare parts for them and still plentiful. And I assume this plane has engines. The engines alone are worth that, just for parts. Just as scrap aluminum, there is probably about $100,000 worth in the entire fuselage and wings.

Half a million to buy it is basically like getting it for free as long as you have a few extra million for a D-check and engine maintenance. But for a widebody airliner, that's as cheap as it gets.

Or you can sell the technical parts off it, and use that money to turn it into a funky nightclub. That alone is worth half a million. A $15 cover charge and you get the money back in one year
An optimist robs himself of the joy of being pleasantly surprised
 
IMissPiedmont
Posts: 6200
Joined: Wed May 23, 2001 12:58 pm

RE: B747 For $0.5m, Worth It?

Sun Nov 17, 2002 12:18 pm

Lindy, how many 727s would you like? I act as go between for as many as you want at half that price and still have 3 people laughing all the way to the bank. A 727 hulk goes for somewhere nearer $15,000.
The day you stop learning is the day you should die.
 
IMissPiedmont
Posts: 6200
Joined: Wed May 23, 2001 12:58 pm

RE: B747 For $0.5m, Worth It?

Sun Nov 17, 2002 12:19 pm

Lindy, how many 727s would you like? I'll act as go between for as many as you want at half that price and still have 3 people laughing all the way to the bank. A 727 hulk goes for somewhere nearer $15,000.
The day you stop learning is the day you should die.
 
slawko
Posts: 3742
Joined: Tue May 25, 1999 7:40 am

RE: B747 For $0.5m, Worth It?

Mon Nov 18, 2002 1:49 am

Probably does not include the engines, or if it does then they are probably almost timed out, which means that its worth it because all it is, is a hunk of scrap metal...
"Clive Beddoe says he favours competition, but his actions do not support that idea." Robert Milton - CEO Air Canada
 
Guest

RE: B747 For $0.5m, Worth It?

Mon Nov 18, 2002 2:28 am

IMissPiedmont: I'll take two Big grin
 
IMissPiedmont
Posts: 6200
Joined: Wed May 23, 2001 12:58 pm

RE: B747 For $0.5m, Worth It?

Mon Nov 18, 2002 12:32 pm

Not 4? I have no idea what happened here. I think my keyboard stuck. Maybe my finger.

Lowfareair, send me a note and I'll set it up. As is where is though. I know, you are joking.  Smile/happy/getting dizzy But I'm not.
The day you stop learning is the day you should die.
 
Android
Posts: 79
Joined: Thu Jun 27, 2002 2:42 pm

RE: B747 For $0.5m, Worth It?

Mon Nov 18, 2002 2:08 pm

From Aircraft value news
"At 20 years of age, even a RB211 powered B747-200B, should enjoy values
in excess of $6 million, which still represents a hefty depreciation profile.
Even prior to Sept. 11, 2001, values of such aircraft were depressed. The reason
for the rapid depreciation of the larger older widebodies lies with a much more
limited operator base, a changing market structure, increased emphasis on
streamlining the fleet, initial quantity discounts, cost of reconfiguration, and
availability of more modern equipment.
Values of the B747-400 now face a potentially similar fate. Values of the
B747-400 have already experienced a significant fall in recent years as the end
of production looms and because of a market structure that increasingly favors
smaller types.
The market for the B747-400s has also reached a certain level of
maturity. Values of -400s have therefore fallen by some 30 percent within a
period of just under two years. The problems of the industry have increased
availability and this will prove difficult to dissipate in today's market.
While there is the prospect of improvement in traffic in the coming
years, the arrival of the A380 will provide the opportunity for replacement of
the B747-400. As of 2007, the age profile of the B747-400 will not be dissimilar
to that of the beleaguered B747-200B suggesting that values of the former will
face similar difficulties that the latter now faces. "

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